To equip assisted living and nursing facility staff with the know-how to prevent and spot the warning signs of elder financial abuse, the Consumer Financial Protection Bureau released a guide to protecting residents from financial exploitation.
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In consultation with the U.S. Department of the Treasury and President Bush's Advisory Council on Financial Literacy, the FINRA Investor Education Foundation commissioned the first national study of the financial capability of American adults in 2009. The overarching research objectives of the
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Using the 2008 Survey of Chinese Consumer Finance and Investor Education and the 2007 Survey of Consumer Finances, this study compared saving motives between Chinese and American urban households. Results showed that Chinese households were more likely than American households to report
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Over the last several decades, there has been a well-documented trend away from defined benefit plans toward defined contribution plans, in which an employee's retirement income depends on contributions to the plan along with the investment earnings on those contributions. Current workers
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Increased policy and academic attention has been placed on promoting retirement savings early in the life course. This study investigates the extent to which retirement savings behavior among young persons, a population for which retirement savings is important but typically low, differs by marital
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Audience: Individual Researcher Teacher

Type of Resource: Peer-reviewed

Tags: Family economics, life course, life events, marriage, retirement

Minority groups, particularly Hispanics and Blacks, are less likely to use formal financial advice compared to their White counterparts and have lower levels of financial literacy on average. This gap in literacy may have important implications for savings, investing, and retirement planning. To
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Traditional economic theory posits that people make decisions by maximizing a utility function in which all of the relevant constraints and preferences are included and weighed appropriately. Behavioral economists and decision-making researchers, however, are interested in how people make decisions
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Two competing explanations for why consumers have trouble with financial decisions are gaining momentum. One is that people are financially illiterate since they lack understanding of simple economic concepts and cannot carry out computations such as computing compound interest, which could cause
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This paper uses data from the Health and Retirement Study to explore the mechanism that underlies the robust relation found in the literature between cognitive ability, and in particular numeracy, and wealth, income constant. We have a number of findings. First, the more valuable the pension, the
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